Quarterly report pursuant to Section 13 or 15(d)

3. Stock Based Compensation (Tables)

v2.4.0.8
3. Stock Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2014
Notes to Financial Statements  
Black-Scholes option pricing model assumptions
   

Three Months ended

June 30,

    

Six Months ended

June 30,

  
    2014     2013     2014     2013  
Risk free interest rate     1.77%       0.70%       1.77%       0.70 – 0.90%  
Dividend yield     0%       0%       0%       0%  
Expected term   5 years     5 years     5 years     5 years  
Expected volatility     47.3%       62.2%       47.3%       62.2 - 62.8%  
Options outstanding

The status of the options issued as of June 30, 2014 and changes during the six months ended June 30, 2014 and 2013, were as follows:

 

    Options outstanding  
   

Number of

shares

     Weighted average price per share  
Balance at December 31, 2013     1,187,000     $ 0.26  
  Options granted, exercised, expired or forfeited     --       --  
Balance at March 31, 2014     1,187,000     $ 0.26  
  Options granted     1,000       0.24  
  Options exercised, expired or forfeited     (3,000 )     0.11  
Balance at June 30, 2014     1,185,000     $ 0.26  

 

   

Number of

shares

     Weighted average price per share  
Balance at December 31, 2012     1,032,500     $ 0.29  
  Options granted     160,000       0.16  
  Options exercised, expired or forfeited     (10,000 )     0.15  
Balance at March 31, 2013     1,182,500     $ 0.28  
  Options granted     20,000       0.18  
  Options exercised, expired or forfeited     (226,000 )     0.22  
Balance at June 30, 2013     976,500     $ 0.29  
Options Summary
Options outstanding     Options exercisable  

 

 

 

Total shares

    

 

Weighted average exercise price

     Weighted average remaining contractual life in years    

 

 

Aggregate intrinsic value

    

 

 

 

 

Total shares

    

 

Weighted average exercise price

     Weighted average remaining contractual life in years    

 

Aggregate intrinsic value

  
  1,185,000     $ 0.26       5.76     $ 52,808       939,000     $ 0.29       4.85     $ 32,735  
Nonvested Stock awards
    Nonvested  
   

 

Number of

shares

    

Weighted average

grant date

fair value

  
Balance at December 31, 2013     431,250     $ 0.08  
Vested     (155,000 )     0.08  
Balance at March 31, 2014     276,250     $ 0.08  
Granted     1,000       0.10  
Vested     (31,250 )     0.08  
Balance at June 30, 2014     246,000     $ 0.08